Two separate economic developments over the last 100 years have caused macroeconomics to regress instead of progress. The first is … Continue reading “The limits of empirical economics”

The United Kingdom will shortly vote either leave or remain in the European Union. This is the most important European … Continue reading “The economic reality of Brexit”

Greece shed its shackles only to realize that it was still in prison. Nothing has been resolved, and the can … Continue reading “A radical solution for Greece”

Should we print, not print? Stimulate, not stimulate? Is austerity the right or wrong policy? Is government spending or printing … Continue reading “Why Keynesians should not be so careless with terminology”